Tata Motors Finance (TMF), the financing arm of Tata Motors, today announced the launch of an attractive scheme for booking the much awaited ‘People’s Car – The Nano’
Salient feautures of the scheme include no upper limit on the number of cars to be booked through TMF, once the customers have submitted the forms a booking amount would be made to Tata Motors on behalf of the customers, applicants who have been allotted the car do not loose any amount except cost of the booking form and initial payments.
The scheme would be offered to partnership firms, private and public limited companies, trusts and HUF.
To facilitate the booking process, multiple touch-points have been created all over the country. As part of the arrangement, TMF will be assisted by Tata Capital Limited, E-nxt Limited, Tata Motor dealers, Tata Securities outlets and all channel partners – DSAs & Vendors to ensure wider distribution. The booking scheme offered by TMF will enable a customer to book the Nano by paying an amount starting Rs 3,199/- only for the base model.
Announcing the scheme Shyam Mani, managing director of Tata Motors Finance said: “It is our constant endeavor to provide the best of services to our customers. Keeping customer convenience in mind, we have designed this convenient one-stop scheme for booking the much awaited Nano. Our wide distribution network will ensure that discerning customers from all parts of the country will be able to participate in the booking process.”
Sale of application forms commenced on April 1, 2009 and acceptance of booking have started from today till 25 April, 2009.
The application forms would be available at price of Rs 300, with a range of offers from select associate Tata Group companies.
The application forms would be available at over 30,000 locations in about 1,000 cities through Tata Motors Passenger Car dealerships, State Bank of India and its branches, its subsidiaries and associates, other preferred financiers, and outlets of Westside, Croma, ‘World of Titan’ and Tata Indicom exclusive stores along with Tata Motors Finance now.
Showing posts with label Tata Motors Finance. Show all posts
Showing posts with label Tata Motors Finance. Show all posts
Tata Motors Finance joins 'Nano' booking-loan bandwagon
Promising a 'one-stop shop' for Tata group's much-awaited small car Nano, Tata Motors Finance, a wholly owned subsidiary of the car maker, on Thursday joined the league of lenders providing loan for the booking amount of the people's car.
Bookings for the Rs 1-lakh car began on Thursday across the country and a several banks are providing prospective customers loans also for the booking amount, ranging from Rs 95,000 to Rs 1,40,000, depending on the car's model.
Tata Motors Finance said today that it is also offering 100 per cent loan amount for the booking at an interest rate of 12 per cent to 13 per cent with a three-year tenure. Asked what Tata Motors Finance would offer as additional benefits to the cust omers, as compared to other financiers, the company's Managing Director, Mr Shyam Mani told PTI from Mumbai over telephone that its offer was aimed at providing a convenient one-stop shop for booking of Nano.
Tata Motors Finance would not try to compete with the banks on interest rates, as their cost of funds might be lower and would rather focus on providing an overall convenience for the prospective Nano buyers, he said. Mr Mani said that the booking pr ocess has begun on a strong note and is expected to further pick up in the days to come. - PTI
Bookings for the Rs 1-lakh car began on Thursday across the country and a several banks are providing prospective customers loans also for the booking amount, ranging from Rs 95,000 to Rs 1,40,000, depending on the car's model.
Tata Motors Finance said today that it is also offering 100 per cent loan amount for the booking at an interest rate of 12 per cent to 13 per cent with a three-year tenure. Asked what Tata Motors Finance would offer as additional benefits to the cust omers, as compared to other financiers, the company's Managing Director, Mr Shyam Mani told PTI from Mumbai over telephone that its offer was aimed at providing a convenient one-stop shop for booking of Nano.
Tata Motors Finance would not try to compete with the banks on interest rates, as their cost of funds might be lower and would rather focus on providing an overall convenience for the prospective Nano buyers, he said. Mr Mani said that the booking pr ocess has begun on a strong note and is expected to further pick up in the days to come. - PTI
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